IShares Core Correlations

AOR Etf

USD 67.04 0.31 0.46%

The current 90-days correlation between iShares Core Growth and Invesco SP 500 is 0.27 (i.e., Modest diversification). The correlation of IShares Core is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

IShares Core Correlation With Market

Almost no diversification

The correlation between iShares Core Growth and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core Growth and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IShares Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in iShares Core Growth. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with IShares Etf

0.9	RLY	SPDR SSgA Multi	Pair Corr
0.95	GAL	SPDR SSgA Global	Pair Corr
0.92	RAAX	VanEck Inflation All	Pair Corr
0.94	GAA	Cambria Global Asset	Pair Corr
0.95	ALTY	Global X Alternative	Pair Corr
0.92	GYLD	Arrow ETF Trust	Pair Corr
0.94	EAOR	iShares ESG Aware	Pair Corr
0.76	AGQ	ProShares Ultra Silver Upward Rally	Pair Corr
0.61	USD	ProShares Ultra Semi	Pair Corr
0.88	JNUG	Direxion Daily Junior	Pair Corr
0.88	NUGT	Direxion Daily Gold	Pair Corr
0.8	GGLL	Direxion Daily GOOGL	Pair Corr
0.91	AGZD	WisdomTree Interest Rate	Pair Corr
0.9	BAMU	Brookstone Ultra Short	Pair Corr
0.95	SMH	VanEck Semiconductor ETF	Pair Corr
0.95	BHYB	Xtrackers USD High	Pair Corr
0.76	AWEG	Fred Alger Management	Pair Corr
0.78	RSPH	Invesco SP 500	Pair Corr
0.82	THD	iShares MSCI Thailand	Pair Corr
0.95	YLD	Principal Active High	Pair Corr
0.9	BCD	abrdn Bloomberg All	Pair Corr
0.93	EDEN	iShares MSCI Denmark	Pair Corr
0.87	EATZ	AdvisorShares Restaurant	Pair Corr
0.92	AVMU	Avantis Core Municipal	Pair Corr
0.91	VUSB	Vanguard Ultra Short	Pair Corr
0.92	IBMR	iShares Trust	Pair Corr
0.98	BBEU	JPMorgan BetaBuilders	Pair Corr
0.92	SYLD	Cambria Shareholder Yield Low Volatility	Pair Corr
0.97	JULW	AIM ETF Products	Pair Corr
0.98	TOUS	T Rowe Price	Pair Corr
0.88	XES	SPDR SP Oil	Pair Corr
0.9	GSIG	Goldman Sachs Access	Pair Corr
0.91	EEMA	iShares MSCI Emerging	Pair Corr
0.89	PWV	Invesco Dynamic Large	Pair Corr

Moving against IShares Etf

0.72	FNGO	MicroSectors FANG Index	Pair Corr
0.42	GBTC	Grayscale Bitcoin Trust	Pair Corr

Related Correlations Analysis

	AOA	AOM	IWX	EWU	IYH	EPI	IYY	FNGD	CGBL	SPHD
AOA		0.99	0.97	0.96	0.55	-0.39	0.92	0.28	0.98	0.81	AOA
AOM	0.99		0.97	0.97	0.58	-0.37	0.91	0.3	0.97	0.82	AOM
IWX	0.97	0.97		0.97	0.61	-0.39	0.83	0.28	0.96	0.89	IWX
EWU	0.96	0.97	0.97		0.52	-0.34	0.8	0.29	0.93	0.88	EWU
IYH	0.55	0.58	0.61	0.52		-0.18	0.52	0.06	0.65	0.49	IYH
EPI	-0.39	-0.37	-0.39	-0.34	-0.18		-0.33	0.06	-0.45	-0.32	EPI
IYY	0.92	0.91	0.83	0.8	0.52	-0.33		0.16	0.92	0.56	IYY
FNGD	0.28	0.3	0.28	0.29	0.06	0.06	0.16		0.21	0.4	FNGD
CGBL	0.98	0.97	0.96	0.93	0.65	-0.45	0.92	0.21		0.75	CGBL
SPHD	0.81	0.82	0.89	0.88	0.49	-0.32	0.56	0.4	0.75		SPHD
	AOA	AOM	IWX	EWU	IYH	EPI	IYY	FNGD	CGBL	SPHD

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

AOM	+ 0.99	AOA
CGBL	+ 0.98	AOA
IWX	+ 0.97	AOA
IWX	+ 0.97	AOM
EWU	+ 0.97	AOM
CGBL	+ 0.97	AOM

High negative correlations

CGBL	- 0.45	EPI
EPI	- 0.39	IWX
EPI	- 0.39	AOA
EPI	- 0.37	AOM
EPI	- 0.34	EWU
IYY	- 0.33	EPI

IShares Core Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Core ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze IShares Core's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AOA	0.46	0.03	(0.01)	0.13	0.48	(0.49)	0.97	(1.03)	2.70
AOM	0.26	0.01	(0.12)	0.12	0.24	(0.27)	0.62	(0.47)	1.71
IWX	0.51	0.09	0.10	0.21	0.35	(0.60)	1.26	(0.96)	2.70
EWU	0.67	0.12	0.12	0.26	0.61	(0.76)	1.41	(1.09)	4.09
IYH	0.75	0.04	0.02	0.15	0.60	(0.93)	2.09	(1.27)	3.76
EPI	0.67	(0.03)	(0.10)	0.00	0.86	(0.66)	1.14	(1.16)	3.99
IYY	0.58	(0.03)	(0.06)	0.05	0.77	(0.59)	1.13	(1.26)	3.52
FNGD	25.60	13.89	4.07	(4.14)	0.00	(27.55)	7.35	(3.45)	16.88
CGBL	0.44	0.03	(0.01)	0.13	0.45	(0.47)	0.87	(1.10)	2.29
SPHD	0.55	0.12	0.12	0.43	0.27	(0.64)	1.43	(0.79)	2.76

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